The world's supply chains are operating at full capacity, with the notable exception of Europe, which remains in a protracted industrial recession. Asia's manufacturing growth was reported by major exporters, led by South Korea, China, and India. Despite the possibility of tariffs and significant uncertainty surrounding their implementation, global manufacturers are not stockpiling inventories. CLARK, N.J., Feb. 12, 2025 /PRNewswire/ -- The GEP Global Supply Chain Volatility Index - a leading indicator tracking demand conditions, shortages, transportation costs, inventories, and backlogs based on a monthly survey of 27,000 businesses - posted -0.21 at the start of the year. This indicates that global supply chains are effectively at full capacity, signaled when the index hits 0.